• Block, a payments company led by Twitter co-founder Jack Dorsey, is working on a digital wallet to allow customers to hold Bitcoin directly.
• This follows the collapse of FTX, with the future of crypto being self-custody.
• Max Guise, Bitcoin Wallet Lead at Block, spoke with CoinDesk about the company’s plans for crypto and the future of self-custody.
The payments company Block, led by Twitter co-founder Jack Dorsey, is working on a digital wallet to allow customers to take control of their money and hold Bitcoin (BTC) directly. This follows the collapse of FTX, with the future of crypto being self-custody.
Max Guise, Bitcoin Wallet Lead at Block, spoke with CoinDesk’s Christine Lee at CES 2023, a tech conference in Las Vegas, about the company’s plans for crypto and the future of self-custody in the wake of FTX’s collapse. According to Guise, Block wants to put customers in control of their money and the best way to ensure customer funds are not gambled with is to not be able to do so in the first place.
Block’s digital wallet is designed to make it easier for customers to securely store their own Bitcoin, without the need for a third party to manage it. The wallet will also feature advanced security features, such as multi-signature support, that will ensure the safety of users’ funds. Additionally, it will also include a user-friendly interface to make it easier for users to monitor their portfolios and make transactions.
In addition to its digital wallet, Block is also working on other products to make it easier for users to manage their cryptocurrencies. These include a crypto-to-crypto exchange and a payments platform, both of which are designed to make it easier for customers to manage their crypto assets.
Overall, the future of crypto looks to be one of self-custody, with Block leading the way with its digital wallet and other products. With these products, customers will be able to take control of their own funds and manage their cryptocurrencies in a secure and user-friendly environment. This will help to ensure the safety of users’ funds and make it easier for them to make transactions and monitor their portfolios. As the crypto industry continues to grow, self-custody will become increasingly important, and Block is taking the necessary steps to ensure that its products are at the forefront of this trend.